Volkswagen Financial Services double operating profit in H1 2021
In the first half of 2021, Volkswagen Financial Services doubled its operating profit to €2.34 billion. The earnings forecast for the full year have been raised to €4 billion.
"The operating result of EUR 2.34 billion marks the most successful half-year period in our company's history to date," said Lars Henner Santelmann, Chairman of the Management Board of Volkswagen Financial Services. "We have therefore earned more in the first half of 2021 than in the whole of 2016."
The increase resulted from the rise in new contracts and in particular also from the high demand for used vehicles and the lower risk costs for credit and residual value risks.
Sources within the company are confident this level of earnings can be maintained over the next few years as well.
Photo: Lars Henner Santelmann, Chairman of the Management Board of Volkswagen Financial Services